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Nov 27, 2012
11/12
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the wealthy did not contribute one nickel toward deficit reduction. i think now is the time where the democrats and the president have got to stand firm and say excuse me, the middle class is hurting in this terrible recession. the number of people who are in poverty is at an all-time high. we are not going to balance the budget on the backs of the most vulnerable and wealthy and large corporations are going to have to start paying their fair share of taxes. >> eliot: senator, not only do i agree with you i love to hear you state it with the clarity you always do. there is still unbelievable ambiguity with what the republicans are willing to do. there are basically three ideas floating around. one you can you would cap the amount any one person could make in deductions. close loopholes and three raise marginal rates. the third i gather is what you think we should do. >> i have not heard any republican is in favor of the latter. i think it's kind of mushy and revenue is a big word. you can have reaction near ways of raising revenue. to my point the pre
the wealthy did not contribute one nickel toward deficit reduction. i think now is the time where the democrats and the president have got to stand firm and say excuse me, the middle class is hurting in this terrible recession. the number of people who are in poverty is at an all-time high. we are not going to balance the budget on the backs of the most vulnerable and wealthy and large corporations are going to have to start paying their fair share of taxes. >> eliot: senator, not only do...
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Nov 23, 2012
11/12
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so if you're trying to get deficit reduction the affordable care act actually helps with deficit reduction. it doesn't hurt it. so, you know, again i think this is just posturing right now. we have so much common ground. this is the scary thing. we agree on the taxes shouldn't go up on 98% of the american people. we agree that these across the board spending cuts should not go in effect because they woxquld damage the economy. all we're fighting over now is tax rates on the top 2% of earners. this seems like something seems as if also based on what i've read and listening to the president and speaker boehner, it also seems as if both sides are trying to position themselves alluded to bases, trying to position themselves to save some face with their respective bases. trying to figure out how they keep the rates intact but also generate more revenue. you alluded to it. i want to put up a screen here. a full screen but "the new york times" reporting today, one suggestion being floated increasing taxes, keeping the rates the same meaning, for instance, that the entire of someone making 400,000
so if you're trying to get deficit reduction the affordable care act actually helps with deficit reduction. it doesn't hurt it. so, you know, again i think this is just posturing right now. we have so much common ground. this is the scary thing. we agree on the taxes shouldn't go up on 98% of the american people. we agree that these across the board spending cuts should not go in effect because they woxquld damage the economy. all we're fighting over now is tax rates on the top 2% of earners....
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Nov 27, 2012
11/12
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the president argues that social security is not driving the deficit problem. it has solvency issues of its own but the president wants those dealt with downstream, sometime next year and on a separate track. now congressional republicans, especially those eager-- or at least willing-- to raise tax revenue want social security, medicare and medicaid as part of the fiscal cliff negotiations. if that's the price tag of a grand bargain, the white house says at least where social security is concerned it's not going to buy. scott? >> pelley: major, thanks very much. it appears the new president of egypt may be backing away from the biggest crisis there since the revolution. there have been four days of protests after president mohammed morsi seized near absolute powers saying that his decisions cannot be overturned by the courts. well, tonight we're hearing that talks between morsi and the supreme court continue with an eye toward compromise. it's a developing story and holly williams is in cairo tonight. >> reporter: in cairo today, they buried a young man who die
the president argues that social security is not driving the deficit problem. it has solvency issues of its own but the president wants those dealt with downstream, sometime next year and on a separate track. now congressional republicans, especially those eager-- or at least willing-- to raise tax revenue want social security, medicare and medicaid as part of the fiscal cliff negotiations. if that's the price tag of a grand bargain, the white house says at least where social security is...
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Nov 28, 2012
11/12
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meantime he will continue to go ahe and increase the deficit. so i don't have any faith in it. look, this morning i was on "fox & friends." i outlined a lot of alternatives we could do where we wouldn't have to raise taxes. one was, i already introduced legislation that would take care of that. we covered it at some length. but if you looked at what happened in the past, the best way to do this is get all these regulations out of the way so people can grow their own businesses. for everyone percent increase in -- everyone% increase in thatas kennedy back in the '60s. he discovered that. that wasn't republican idea. melissa: you're talking about regulation. i know you're really focused on the epa so i don't want to runut of time without asking you. we'll have the ceo of transcanada later talking about the xl pipeline. this is another thing we left to be resolved after the election. do you think we'll see that full pipeline approved and put into place? what do you think? >> well, i think obviously we should but you still have the far left is going to be pulling on the president o
meantime he will continue to go ahe and increase the deficit. so i don't have any faith in it. look, this morning i was on "fox & friends." i outlined a lot of alternatives we could do where we wouldn't have to raise taxes. one was, i already introduced legislation that would take care of that. we covered it at some length. but if you looked at what happened in the past, the best way to do this is get all these regulations out of the way so people can grow their own businesses....
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Nov 28, 2012
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the deficit reduction talks weighed on wall street. the dow lost 9 points while the nasdaq gave up 9 points. brick-and-mortar sales reported increased sales to kick off the holiday shopping season. home prices in most major american cities are on the rise. a survey showed prices rose 3% in september. the bangladesh garment factory where 112 people were killed produced clothes for disney and walmart and sears. the ap discovered clothing and records connected to the retailers inside the remains of the factory. walmart says it stopped doing business with the factory after learning the facility was deemed high risk. this morning three factory officials were arrested on suspicion they locked the workers inside the building. the surge in cyber monday shopping on monday means big business for shippers. federal express expects to deliver 280 million packages during the holiday season. to handle the extra work fedex says they hired 20,000 seasonal employees. and pop star adele is rolling in the dough or at least her record company is. her album
the deficit reduction talks weighed on wall street. the dow lost 9 points while the nasdaq gave up 9 points. brick-and-mortar sales reported increased sales to kick off the holiday shopping season. home prices in most major american cities are on the rise. a survey showed prices rose 3% in september. the bangladesh garment factory where 112 people were killed produced clothes for disney and walmart and sears. the ap discovered clothing and records connected to the retailers inside the remains...
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Nov 26, 2012
11/12
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i think the economy is sort of waiting, this deficit is like a dark cloud over everything. >> reporter: king worries, though, that nothing will get done if the senate doesn't change its ways. he wants to change the rules on filibusters which allow a minority of senators to bring the senate floor to a halt. >> that was the central core of my campaign, that we have to be thinking with about and working on making the institution work, reaching decisions, compromising. >> reporter: you're going have to be a pretty strong suspension bridge if are you going to be a bridge between those two parties. >> i like the image of a bridge. >> reporter: a bridge he hopes will bring the senates two warring sides together. chip reid, brunswick, maine. >> glor: it is one of the country's most notorious criminal conviction. a new film examines the nightmare of the central park five next. ermacare works differ. it's the only wrap with patented heat cells that penetrate deep to relax, soothe, and unlock tight muscles. for up to 16 hours of relief, try thermacare. heartburn symptoms causedelieve by acid refl
i think the economy is sort of waiting, this deficit is like a dark cloud over everything. >> reporter: king worries, though, that nothing will get done if the senate doesn't change its ways. he wants to change the rules on filibusters which allow a minority of senators to bring the senate floor to a halt. >> that was the central core of my campaign, that we have to be thinking with about and working on making the institution work, reaching decisions, compromising. >>...
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Nov 26, 2012
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. >> reporter: but raising taxes is only one-half of a deficit deal. republicans want democrats to raise the eligibility age for medicare. >> i want entitlement reforms. republicans put revenue on the table, democrats always promise to cut spending. i'm looking for more revenue for entitlement reform before the end of the year. >> reporter: so far democrats sound lex flexible. >> we've got to make sure there is seamless coverage of afordable health coverage for every american. my concern about raising the retirement age gaps in coverage or coverage that's way too expensive for seniors to purchase. >> reporter: there are many potential cliffs but higher taxes for structural changes for medicaid and medicare may be abong the biggest. bob corker argued for both warning everyone against punting this until next year or accepting phony savings that don't solve or at least address the underlying deficit and structural debt problems. charlie and norah? >> let me add my voice, congratulations you on this day enharnting one of the big jobs in journalism. they're
. >> reporter: but raising taxes is only one-half of a deficit deal. republicans want democrats to raise the eligibility age for medicare. >> i want entitlement reforms. republicans put revenue on the table, democrats always promise to cut spending. i'm looking for more revenue for entitlement reform before the end of the year. >> reporter: so far democrats sound lex flexible. >> we've got to make sure there is seamless coverage of afordable health coverage for every...
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Nov 26, 2012
11/12
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he now has 75 days on deficit reduction and if they don't they have spending cuts that will go into effect january 1st. both parties are ready to compromise. >> the bottom line is we have to get ready as much as possibpresident in the second term -- >> a key sticking point is what to do about taxes and now they want to raise taxes on the wealthy while republicans done while capping certain reductions. >>> police officers can start applying and at 8:00 a.m. they will begin accepting applications for entry level officers. they must be at least 20 years old and have a valid california driver's license or equivalent. the application will start december 7th and starting salary is 88,000 dollars a year. in the city of antioch, we offer a new incentive to apply to its police force and they are set to apply tomorrow to change the formula for transfers for existing officers. he had a pension of 3% of last year's salary times the number of years they worked for the department. he has 14 vacant positions. >>> and car buffs are hitting show rooms next year. they are in san francisco showcasing 39 auto
he now has 75 days on deficit reduction and if they don't they have spending cuts that will go into effect january 1st. both parties are ready to compromise. >> the bottom line is we have to get ready as much as possibpresident in the second term -- >> a key sticking point is what to do about taxes and now they want to raise taxes on the wealthy while republicans done while capping certain reductions. >>> police officers can start applying and at 8:00 a.m. they will begin...
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Nov 26, 2012
11/12
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social security did not cut a penney of the debt or deficit. we don't need to cut it which is what a lot of the is executives want. you know, medicare has problems. we should deal with those. we should start negotiating drug price. that save 25s billion a year. they don't want to go there. the pharmaceutical doesn't want to go there. there are places to save money and make it whole but they're not the cause of the debt and debt we're dealing with. extraordinarily low taxes. for ten, 12 years we've been cutting taxes to create jobs. my question is where are the jobs. hay didn't come from the tax cuts. >> let me read something. this is part of the article that quoted your comments that says perhaps it's better to go over the cliff. it says with bad taste of budgets lingering in their mouths, liberals have a particular reason to be concerned. he struck a deal with republicans to extend the bush era tax cuts iffer more than two years app last year's agreement to raise the debt ceiling, no new revenues, angering them again. is this having to do with
social security did not cut a penney of the debt or deficit. we don't need to cut it which is what a lot of the is executives want. you know, medicare has problems. we should deal with those. we should start negotiating drug price. that save 25s billion a year. they don't want to go there. the pharmaceutical doesn't want to go there. there are places to save money and make it whole but they're not the cause of the debt and debt we're dealing with. extraordinarily low taxes. for ten, 12 years...
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Nov 27, 2012
11/12
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don't buy this hype, such as letting the bush cuts expire, are not the answer to tackling this deficit. in fact, during the 2012 fiscal year the federal government cost $9.7 billion to run each and every day, but the additional revenue from letting the bush tax cuts expire only amounts to around $82 billion a year, meaning the government would be funded for a whopping 8.5 days if in fact the president wins this fight. sadly the real reason we've reached this point is because our elected representatives simply have no idea how to stop spending your money. as a result, the door has been kicked wide open for democrats to use this as an opportunity to scare you into thinking more government, well, that's got to be the answer. we've heard all of this before. now during both the obamacare and the stimulus debates, fear mongering was this president's go-to strategy into getting his way. this is what he predicted would happen unless his so-called recovery plan was passed. >> the situation we face could not be more serious. we've inherited an economic crisis as deep and dire as any since the gr
don't buy this hype, such as letting the bush cuts expire, are not the answer to tackling this deficit. in fact, during the 2012 fiscal year the federal government cost $9.7 billion to run each and every day, but the additional revenue from letting the bush tax cuts expire only amounts to around $82 billion a year, meaning the government would be funded for a whopping 8.5 days if in fact the president wins this fight. sadly the real reason we've reached this point is because our elected...
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Nov 28, 2012
11/12
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mortgage debt eligible for a deduction from a million dollars to $500,000 say it could help reduce the deficit and keep interest rates low and, scott, that could help the housing market all by itself. >> pelley: dean, thank you. just ahead, researchers have discovered a piece of world war ii history off the coast of florida. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement therapy. it raises your testosterone levels, and... is concentrated, so you could use less gel. and with androgel 1.62%, you can save on your monthly prescription. [ male announcer ] dosing and application sites between these products differ. women and children should avoid contact with application sites. discontinue androgel and call your doctor if you see unexpected signs of early puberty in a child, or, signs in a woman which may include changes in body hair or a large increase in acne, possibly due to accidental exposure. men with breast cancer or who have or might have prostate cancer, and women who are, o
mortgage debt eligible for a deduction from a million dollars to $500,000 say it could help reduce the deficit and keep interest rates low and, scott, that could help the housing market all by itself. >> pelley: dean, thank you. just ahead, researchers have discovered a piece of world war ii history off the coast of florida. presenting androgel 1.62%. both are used to treat men with low testosterone. androgel 1.62% is from the makers of the number one prescribed testosterone replacement...
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Nov 26, 2012
11/12
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>>> a balanced approach to deficit reduction is the right approach. i would say that the president made clear he will not sign a bill that extends the bush era tax cuts for those making more than 250,000 dollars. >> it's time for the president to present a fan that rises above the reckless and the radical voices on the hard left that goes beyond the talking points of the campaign rail. that has a realistic chance of passing the congress. the time for campaigning is over. time for the president to lead. >> bret: some of the back-and-forth on the fiscal cliff and negotiations that are upcoming. if the white house gets its way. all tax cuts on high income earners are let go, expiring, the bush era tax cuts, this is what you are looking at. according to the treasury department it costs the federal government 9.69 billion a day to run the government. the expiration would be $8.24 billion a year on the top earners. roughly $82.4 billion a year. $824 billion in ten years. that would per year run the federal government for 8.5 days a year. that is if the tax
>>> a balanced approach to deficit reduction is the right approach. i would say that the president made clear he will not sign a bill that extends the bush era tax cuts for those making more than 250,000 dollars. >> it's time for the president to present a fan that rises above the reckless and the radical voices on the hard left that goes beyond the talking points of the campaign rail. that has a realistic chance of passing the congress. the time for campaigning is over. time for...
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Nov 26, 2012
11/12
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reform is the only way to get the debt and deficit under control. we've got to take it on. >> chris: let me ask you, you say you would consider more revenue but with loopholes -- >> there's so many of them. >> chris: you voted against the bush tax cuts a decade ago because you said too many of the benefits go to the wealthy, not the middle class. once they were passed you have changed your view and said i'm not going to oppose them. it you could get a deal for entitlement reform and take a chunk out of the national debt, why is the 35% top tax rate which you oppose sacred? >> every economist i respect says if you raise tax rates at this time -- the president says that a couple of years ago -- it harms the economy. we're trying to help the economy. unless i'm convinced raising tax rates will be beneficial, obviously i think there's reason and grounds for my position. i also believe that we can and must get an agreement, otherwise i think first of all the markets are going to start reacting. >> chris: we'll talk about that in the next segment. finally
reform is the only way to get the debt and deficit under control. we've got to take it on. >> chris: let me ask you, you say you would consider more revenue but with loopholes -- >> there's so many of them. >> chris: you voted against the bush tax cuts a decade ago because you said too many of the benefits go to the wealthy, not the middle class. once they were passed you have changed your view and said i'm not going to oppose them. it you could get a deal for entitlement...
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Nov 21, 2012
11/12
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the majority of the american people want deficits and jobs are going head to head which they are, if you're cutting spending an raising taxes particularly on the people who spend their money in the economy immediately. the american people want jobs two to one. and so this is going to be the real challenge for us to sort of navigate this obstacle course and get squarely back on the issue of jobs to make sure that we're actually spending more in the short term and, you know, if you read the tea leaves with bernanke he's saying what he doesn't want is any immediate austerity that includes spending cuts as well as just tax increases. >> ben, do you agree with that sort of view, as ben bernanke as a secret liberal? >> i mean -- >> he's trying to fix the economy. >> i don't think there's any disagreement, nobody who's pro cliff, the framing of it and the whole idea was that this was something so horrific they would be forced to negotiate in good faith and reach a deal before it. i do think -- you're right. it does cast into relief the pretty broad consensus that immediate austerity is not
the majority of the american people want deficits and jobs are going head to head which they are, if you're cutting spending an raising taxes particularly on the people who spend their money in the economy immediately. the american people want jobs two to one. and so this is going to be the real challenge for us to sort of navigate this obstacle course and get squarely back on the issue of jobs to make sure that we're actually spending more in the short term and, you know, if you read the tea...
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turned i think the atmosphere in europe would be a lot better off course in terms of the britain's own deficit and the debts that the u.k. has it is a small amount that the european union's asking for because the european union has already taken so much power people are just loathe to accept a situation where they're going to get any more money. while europe's ruggles to find a common way forward some regions are looking for ways to go it alone in spanish cut the line and people are set to go to the polls to elect a regional government which could see a referendum on its independence artie's enter farmer has the details. there's a wind of separatism blowing through europe at the moment and it's reached the northeastern shores of spain catalonia is the latest region to officially aspirate independence is something people here have long felt in their hearts but now they're feeling it in their pockets. i think it's a good idea to be banned them from. a country. in a really really bad situation is a bargain for. it's a bargain for the good of the cattle and flags can be seen hanging from balconies
turned i think the atmosphere in europe would be a lot better off course in terms of the britain's own deficit and the debts that the u.k. has it is a small amount that the european union's asking for because the european union has already taken so much power people are just loathe to accept a situation where they're going to get any more money. while europe's ruggles to find a common way forward some regions are looking for ways to go it alone in spanish cut the line and people are set to go...
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very bad mismanaged that the central government in the fear started looking back that triggered this deficit situation that allude to the loonies anyway. he does through area it's fate and he's the only one that can mention we can keep it's great so we could burst your of. course you should it was worth mentioning the record doesn't also allow for us apparently some. beyond is quite unpredictable but i would say that will taper easily outnumber the relationship between salute them and read would be its trade and they risk even to become violent. and you can find out more about the catalonian movement for independence on our websites the timeline of the protests and in-depth analysis of spain's economy trouble which he views are. also online the mass murder a responsible for the deaths of seventy seven people branch his prison conditions as inch humane funnel water and his grave make is complaining about. the masses the media claims that the flow of smuggle weapons to guns that is under threat hand has failed to keep following itself it says reports that egypt in the us a teaming up to stop a
very bad mismanaged that the central government in the fear started looking back that triggered this deficit situation that allude to the loonies anyway. he does through area it's fate and he's the only one that can mention we can keep it's great so we could burst your of. course you should it was worth mentioning the record doesn't also allow for us apparently some. beyond is quite unpredictable but i would say that will taper easily outnumber the relationship between salute them and read...
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turned i think the atmosphere in europe would be a lot better off course in terms of the britain's own deficit and the debts that the u.k. has it is a small amount that the european union's asking for because the european union has already taken so much power people are just loathe to accept a situation where they're going to get any more than money. but some regions are see europe's financial troubles as a reason to take a step away from the indebted countries spanish cut the lawn yet set to vote for its local government with separate as parties are to take the lead that's ahead for you after the shop break. which is slow often enough and knows that to ride a horse you've got to catch it first. for him it's a daily routine that you're soft as a force breeder on the island of a horn at the heart of. his life on an isolated farm is about blue sky green grass and his horses work there sometimes it gets lonely here but horses have become part of me now i've fallen off so many times sometimes they'd bite as well it's part of my everyday life. i holmes been home to a new brat locally just laugh for
turned i think the atmosphere in europe would be a lot better off course in terms of the britain's own deficit and the debts that the u.k. has it is a small amount that the european union's asking for because the european union has already taken so much power people are just loathe to accept a situation where they're going to get any more than money. but some regions are see europe's financial troubles as a reason to take a step away from the indebted countries spanish cut the lawn yet set to...
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Nov 26, 2012
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entitlement reform is the only way we are going to really get the debt and deficit under control. and we have to take it on. >> chris: but let me ask you. you say you would consider more revenue but through loopholes and deductions... let me ask you, you vote against the bush tax cuts, a decade ago, because, and i went back and looked, you said too many of the benefits go to the wealthy, not to the middle class and once they were passed you changed your view and said they have taken effect. i will not oppose them. but, if you could get a solid deal, with, as you call for, spending cuts and entitlement reform and make a major -- take a chunk out of the national debt, why is the 35% top tax rate which you opposed sacred? >> because every economist that i respect says if you raise tax rates at this time, in fact, the president even said a couple of years ago, it harms the economy. we are trying to help the economy. and, so, unless i can be convinced that raising tax rates will be beneficial, then obviously i think there's reason and ground for my position. but, i also believe that we
entitlement reform is the only way we are going to really get the debt and deficit under control. and we have to take it on. >> chris: but let me ask you. you say you would consider more revenue but through loopholes and deductions... let me ask you, you vote against the bush tax cuts, a decade ago, because, and i went back and looked, you said too many of the benefits go to the wealthy, not to the middle class and once they were passed you changed your view and said they have taken...
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faces the deficit and they need a bailout so what is the true nature of the housing market right now and so-called recovery that's what i want to ask michael kroger principal of creator asset management also he writes at liberty blitzkrieg so given the government's role in housing given that the f.h.a. may need a bailout what do you think is a the true nature of the housing market and the what's going to happen with any so-called recovery ok so first of all as far as the f.h.a. the federal housing administration that's in it was a great story the wall street journal the other day talking about how you know nine out of ten mortgages are being rejected now go through a government agency out and i don't know and i think people will be surprised to hear that after two thousand and eight you know i mean but but so the f.h.a. it was surprising to me the f.h.a. basically with what they historically what their role was supposed to be was to provide assistance to low income players in housing and of course they picked up that role after fannie and freddie weren't able to in the in the housing
faces the deficit and they need a bailout so what is the true nature of the housing market right now and so-called recovery that's what i want to ask michael kroger principal of creator asset management also he writes at liberty blitzkrieg so given the government's role in housing given that the f.h.a. may need a bailout what do you think is a the true nature of the housing market and the what's going to happen with any so-called recovery ok so first of all as far as the f.h.a. the federal...
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Nov 25, 2012
11/12
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., trust is our biggest deficit. we need to react on the facts and then that's what should be done. >> eric: ford tseems to some, miss rice has a lack of trust, though she said she relied solely on the intelligence. she said she made it clear that what she was sayinged about the muslim video was preliminary. >> again, blaming the intel is a copout. i think she needs to get the count opportunity to explain herself. she needs to take accountability of her actions. it cements to be clear, nobody knows for sure, she allowed herself to be a pawn for the administration. if you are going to be the nation's top diplomat, have you to show some independence. yes, have you to have loyalty to the administration. but your responsibility's to the american people. i agree here, the bottom line, we have four dead americans and no answers. we need to get to the bottom of this in a bipartisan way. >> eric: when you use the word "pawn," you say you are part of the administration, you are saying that the administration's lying come and
., trust is our biggest deficit. we need to react on the facts and then that's what should be done. >> eric: ford tseems to some, miss rice has a lack of trust, though she said she relied solely on the intelligence. she said she made it clear that what she was sayinged about the muslim video was preliminary. >> again, blaming the intel is a copout. i think she needs to get the count opportunity to explain herself. she needs to take accountability of her actions. it cements to be...
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Nov 28, 2012
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martha: reid says any agreement must have the wealthy to pay a little bit more to reduce the deficit. bill: what happens if they don't see a deal? 90% of americans will see a tax hike in 2013. and families that make between $40,000 and $65,000 will have to pay an extra $2,000 to washington, d.c. in taxes. martha: concerns over america's fiscal cliff have sent the markets lower in premarket trading. there is a look at where the dow is poised to open this morning. with the dow, the s & p and the nasdaq all trading lower. speaking of that, a new round of violent protests break out in egypt as police fired teargas into the crowds. here are some of those scenes. >> unbelievable. more than 100,000 people flooded into downtown cairo. this time they are protesting the current president martha maccallum and his power grab. they are disillusioned with what he has brought to their country. then you have this happening. police firing teargas. gypt's highest courts refusing to work in protest of morsi's actions. steve harrigan is streaming live from cairo. the protests looked like the unrest we sa
martha: reid says any agreement must have the wealthy to pay a little bit more to reduce the deficit. bill: what happens if they don't see a deal? 90% of americans will see a tax hike in 2013. and families that make between $40,000 and $65,000 will have to pay an extra $2,000 to washington, d.c. in taxes. martha: concerns over america's fiscal cliff have sent the markets lower in premarket trading. there is a look at where the dow is poised to open this morning. with the dow, the s & p and...
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Nov 25, 2012
11/12
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at how we reform our entitlements because health care costs continue to be the biggest driver of our deficits. >> reporter: mr. obama has insisted tax rates must rise. today a top democrat signalled openness to the republican stance. revenue could be raised by closing loopholes and limiting deductions. >> they have to go up either real tax rates or effective tax rates. >> reporter: tax begin this week amid tentative steps toward common ground. >> we can't go off the fiscal cliff. we have to show the world we're adults. the election is over. >> reporter: one ceo of honeywell said there's so much uncertainty hanging over the economy because business isn't confident that washington can go its basic job. he says people like me just aren't hiring. kate. >>> mike viqueira at the white house. senator john mccain softened his tone after vowing to block the nomination of u.n. ambassador susan rice to be hillary clinton's successor. he argued that rice damaged her credibility when she said the attack was a spontaneous protest to an anti-muslim video not a planned terror attack. today mccain was asked i
at how we reform our entitlements because health care costs continue to be the biggest driver of our deficits. >> reporter: mr. obama has insisted tax rates must rise. today a top democrat signalled openness to the republican stance. revenue could be raised by closing loopholes and limiting deductions. >> they have to go up either real tax rates or effective tax rates. >> reporter: tax begin this week amid tentative steps toward common ground. >> we can't go off the...
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Nov 27, 2012
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let's make sure that revenue is an integral part of deficit reduction. yes, from my side of the table, bring entitlement reform into the conversation. >> so far senator durbin has limited company among some of his fellow democrats. keeping them honest during the last budget showdown, both sides talked like this, but then they backed away. also, as we mentioned a moment ago, there are late new signs na nobody is quite ready to cut a deal. another round of white house talks between congressional leaders and president obama was promised but is yet to materialize. a senate democratic leadership aide told us that staff level meetings p are meant to lay the groundwork haven't been very productive. one senate republican leadership aide accuses democrats of leaking details in order to portray republicans negatively. the aide notes that the talks are continuing, which ifrts can be read as some sort of progress. whether that's real progress or washington progress remains to be seen. >>> a lot to talk about starting with tennessee republican senator bob corker. sen
let's make sure that revenue is an integral part of deficit reduction. yes, from my side of the table, bring entitlement reform into the conversation. >> so far senator durbin has limited company among some of his fellow democrats. keeping them honest during the last budget showdown, both sides talked like this, but then they backed away. also, as we mentioned a moment ago, there are late new signs na nobody is quite ready to cut a deal. another round of white house talks between...
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Nov 24, 2012
11/12
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all likelihood, taxes are probably going to have to go up across the board simply to deal with the deficit and everything else out there, so if you're a democrat, are you happy or unhappy because once that train starts rolling, it could hit l middle class, which the democrats warn they won't touch. >> i mean, i'm definitely happy about it. it's thanksgiving and i'm very thankful right now for millions of americans who came out on november 6th and declared loudly that the tax reform in particular making especially the highest income americans, you know, actually paying their fair share of taxes. that that's a priority and something that should be pursued in context of the fiscal cliff. the train is rolling and i think it's nice to see even some republicans now eventually realizing that taxes in particular tax fairness, does need to be a substantial part of this fiscal debate. >> but you just skated around my question, which is that if you're going to have real tax reform, almost every economist says the middle class is going to pay more, too. how are democrats going to handle that? >> i thi
all likelihood, taxes are probably going to have to go up across the board simply to deal with the deficit and everything else out there, so if you're a democrat, are you happy or unhappy because once that train starts rolling, it could hit l middle class, which the democrats warn they won't touch. >> i mean, i'm definitely happy about it. it's thanksgiving and i'm very thankful right now for millions of americans who came out on november 6th and declared loudly that the tax reform in...
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course in terms of the britain's own deficit and the debts that the u.k. has it is a small amount that the european union's asking for because the european union has already taken so much power people are just loath to accept a situation where they couldn't get any more money i guess look at as one of the sentiments of the last few days how does the lack of agreement affect the likelihood now do you think maybe of a complete exit of britain from the e.u. knowing that the anti bloc sentiment maybe is gaining strength across the country that is becoming a creasing increasingly likely there was a recent opinion poll which showed that fifty six percent of those polled wanted to leave the european union many people in this country are very unhappy with the terms of membership and this just goes to show the fact that. agreement couldn't be reached in brussels at this meeting of the european council shows that really britain doesn't fit into these projects of having greater centralization is not something that many politicians let alone the british public in the
course in terms of the britain's own deficit and the debts that the u.k. has it is a small amount that the european union's asking for because the european union has already taken so much power people are just loath to accept a situation where they couldn't get any more money i guess look at as one of the sentiments of the last few days how does the lack of agreement affect the likelihood now do you think maybe of a complete exit of britain from the e.u. knowing that the anti bloc sentiment...
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Nov 24, 2012
11/12
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of the americans believe they need more taxes and lowest tax necessary 80 years and we have a high deficit. they can afford to pay more. >> the fact is, many republicans are saying okay. we want to talk about taxes. let's also take a look at entitlements and speppeding cuts and so far, the white house hasn't put forward anything on paper that they are willing to discuss. >> that is one of the hardcore issues here. there is an idea coming from the democrats we are going to raise taxs and off set it by raising taxings. we have a staggering economy and unemployment and we'll hit 50 million americans on food stamps and no end for that number to constantly grow even as unemployment rates went down. we are adding to people on food stamps which doesn't make sense. how do youriform these things? and at the same time not just say we'll raise taxs and continue to spend money we don't have. look at the white house. they are borrowing 47 cents of every dollar spent in the budget this year. it is it not going to work and they will have to give and we'll go after the rich and take their mon yeby the way
of the americans believe they need more taxes and lowest tax necessary 80 years and we have a high deficit. they can afford to pay more. >> the fact is, many republicans are saying okay. we want to talk about taxes. let's also take a look at entitlements and speppeding cuts and so far, the white house hasn't put forward anything on paper that they are willing to discuss. >> that is one of the hardcore issues here. there is an idea coming from the democrats we are going to raise taxs...
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Nov 27, 2012
11/12
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taxes. >> i want to reduce the deficit. you're absolutely wrong. i want to reduce the deficit j why are you afraid the fiscal cliff? >> because larry elder i believe that cutting spending will help grow the economy. i also believe a flat tax will help growth economy, but larry elder, my beef right now is it's all about revenues and tax rates and so forth, and i want lower spending because i think that's progrowth, larry elder. >> less money should be taken from the pockets of the american people, whether you're talking about deductions or loop hole, however you do it. less money should not -- should be taken from the american people, not more, and christiana roma said raising taxes is contractionary, lowering taxes section pangsry. one more time why do it at all? >> exaccuse me, larry. >> two things. there's a political reason and there's a policy reason. the political reason is we had an election. the american people decided tax rates were going to go up for the top 2% of income earners. the republicans tried the alternati
taxes. >> i want to reduce the deficit. you're absolutely wrong. i want to reduce the deficit j why are you afraid the fiscal cliff? >> because larry elder i believe that cutting spending will help grow the economy. i also believe a flat tax will help growth economy, but larry elder, my beef right now is it's all about revenues and tax rates and so forth, and i want lower spending because i think that's progrowth, larry elder. >> less money should be taken from the pockets of...
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Nov 23, 2012
11/12
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care scenario using his own numbers raise $82 billion in additional revenue and we have $1 trillion deficit and $17 trillion in debt like putting a band-aid on a grenade wound. >> wasn't the choice very clear in the election, republicans said no tax increases and they got a president who said, well have them and they lost seats in the senate. >>guest: they did but they kept the house of representatives and the americans voted if a government with two parties that control different areas of the government. if there is a mandate it is that americans want both sides to get together to compromise, to work out a solution, and i don't think it was by any means endorsement of raising taxes for the sake of raising taxes. that is worst case scenario for republicans. there is another way, and it is closing loopholes and deductions. >> do all republicans know it? you speak to senator chambliss who says i am doing what is best for the country not living with the no tax hike pledge? >>guest: absolutely, senator chambliss, i cannot speak if him personally but most republicans would say there is a better
care scenario using his own numbers raise $82 billion in additional revenue and we have $1 trillion deficit and $17 trillion in debt like putting a band-aid on a grenade wound. >> wasn't the choice very clear in the election, republicans said no tax increases and they got a president who said, well have them and they lost seats in the senate. >>guest: they did but they kept the house of representatives and the americans voted if a government with two parties that control different...
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Nov 29, 2012
11/12
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this will not make a dent in the deficit. here to disagree with me is christian dorsey from the economic policy institute. christian, thank you so much for coming back to the show. you are always a spirited debate partner. tell me why you like this. >> i'll tell you, melissa, to me this is not so much about the revenue that it would raise but about the message and principle it stand for, that we can't in this country have a situation where people are making millions of dollars effectively paying lower tax rates than america's middle class families. the principle of this, of this rule is actually what's most important. the revenue that it raises, it is important because it is not chump change but it is not in of itself going to change our deficit conversation but the principle is one that is extremely important. liz: but you're talking about wealthier people. well thinker people pay a higher average tax rate. everybody pulls out the stat that they want to look at. if you look at average tax rate of the top 1%, it is 23%, almos
this will not make a dent in the deficit. here to disagree with me is christian dorsey from the economic policy institute. christian, thank you so much for coming back to the show. you are always a spirited debate partner. tell me why you like this. >> i'll tell you, melissa, to me this is not so much about the revenue that it would raise but about the message and principle it stand for, that we can't in this country have a situation where people are making millions of dollars effectively...
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Nov 21, 2012
11/12
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is there enough revenue from waste, fraud and abuse and m medicare to get the type of serious deficit reform needed to bring down the $16 trillion debt? >> well, you know, i think anytime you're talking about a deficit, there's two ways to bring it down, and i know you know this well. you're either going to raise revenue or have cuts, and i would continue to argue for a balanced approach which means i do think you can find savings in both programs. but what i'm concerned about is what the real agenda is and the real agenda, in my opinion, is to end medicare. i mean, that was certainly a big item in the presidential debate is changing medicare into a voucher program. so what i don't believe in is changing the fundamental structure where we break the guarantee to seniors that we've had in our country for decades. that i disagree with. finding savings, there are certainly ways to do that in both programs, but neither one is going to balance or is going to address the deficit without clearly raising revenue. >> an interesting thing has developed among some of your fellow members in the ho
is there enough revenue from waste, fraud and abuse and m medicare to get the type of serious deficit reform needed to bring down the $16 trillion debt? >> well, you know, i think anytime you're talking about a deficit, there's two ways to bring it down, and i know you know this well. you're either going to raise revenue or have cuts, and i would continue to argue for a balanced approach which means i do think you can find savings in both programs. but what i'm concerned about is what the...
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Nov 28, 2012
11/12
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but also a lot of republicans and a lot of independents agreed we should have a balanced approach to deficit reduction that doesn't hurt the economy or hurt middle class families. glad to see if you have been reading the pains more and more republicans in congress are agreeing with this idea we should have a balanced approach. >>shepard: he referenced some in the g.o.p. who signal they could be willing to play bull. the republican leadership still is insisting they will not consider tax hikes. >> republicans are willing to put revenue on the table the it is time for the president and democrats to get serious on the spending problem our country has. >>shepard: president obama continues the p.r. blitz. later today he is scheduled to meet with big business leaders to discuss the proposed fix to the fiscal cliff. ed henry is live with us at the white house. what seem it is to be lost in this is the tax cuts going to expire. that's it. if they want to extend them on some, they can. but he will not allow it on people who make more. what part of this is confusing? >>reporter: a lot of other pieces
but also a lot of republicans and a lot of independents agreed we should have a balanced approach to deficit reduction that doesn't hurt the economy or hurt middle class families. glad to see if you have been reading the pains more and more republicans in congress are agreeing with this idea we should have a balanced approach. >>shepard: he referenced some in the g.o.p. who signal they could be willing to play bull. the republican leadership still is insisting they will not consider tax...
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Nov 21, 2012
11/12
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. >> how do we move our country forward and reduce the deficit? by creating jobs and growing our economy. not by cutting programs that families rely on most. we need senators udall to continue to stand up for us. >> jennifer: do you think that democrats are going to feel as pressured by the unions as republicans feel pressured by grover norquist? >> organized labor is the best organized, most effective strongest arm on the left in this country. they are a great ally for the democratic party and so, of course the democrats will feel pressure from labor. they are also going to feel pressure from -- >> jennifer: are they going to compromise? >> we'll find out. the democrats aren't one party in lock step. have conservative democrats liberal democrats. so the unions can't force every democrat to do something. and there's pressure also from the middle. you said pressure from the right. pressure from the left. but there's pressure from the middle. a democratic interest group that has some swaining called third way released polling that said hey, look, th
. >> how do we move our country forward and reduce the deficit? by creating jobs and growing our economy. not by cutting programs that families rely on most. we need senators udall to continue to stand up for us. >> jennifer: do you think that democrats are going to feel as pressured by the unions as republicans feel pressured by grover norquist? >> organized labor is the best organized, most effective strongest arm on the left in this country. they are a great ally for the...
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Nov 27, 2012
11/12
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lawmakers are under pressure to strike a deficit deal, preventing the tax hikes and deep spending cuts. wall street's week got off to an uncertain start, partly over concerns that strong holiday sales won't last. the dow jones industrial average lost 42 points to close at 12,967. the nasdaq managed about a ten- point gain to close at 2976. the woman who helped steer the government's regulatory response to the 2008 financial crisis is stepping down. mary schapiro announced today she's resigning as chair of the securities and exchange commission after nearly four years. president obama has designated s.e.c. commissioner elisse walter to replace schapiro, effective december 14. in bangladesh, thousands of people protested today over a deadly fire at a factory that makes garments for american and other companies. at least 112 people died in the saturday night blaze on the outskirts of dhaka, the country's capital. today, crowds of textile workers demanded justice and improved conditions. they accused management of putting production quotas ahead of people's lives. . >> reporter: what the f
lawmakers are under pressure to strike a deficit deal, preventing the tax hikes and deep spending cuts. wall street's week got off to an uncertain start, partly over concerns that strong holiday sales won't last. the dow jones industrial average lost 42 points to close at 12,967. the nasdaq managed about a ten- point gain to close at 2976. the woman who helped steer the government's regulatory response to the 2008 financial crisis is stepping down. mary schapiro announced today she's resigning...
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Nov 23, 2012
11/12
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week after the postal service announced a 15.9 billion in losses, the agency is trying to recoup the deficit. starting inep december 12th. they will follow ebay and amazon and walmart and offer same day delivery. the metro post ames to boost profits by taking advantage of holiday shoppers who get their hands on last-packages and the agency is teaming up with 8-10 retailers to offer it at a $10 flat rate fee. we know that customers will have to place their orders by two o'clock p.m. the latest and items will be delivered between four and eight the same day. they hope to generate 10-50 million. and it expected 20 percent jump in package volume which is more than the rivals. they will look to expand it in other major like new york, boston and chicago et cetera. the outlook is bleak even if it makes maxed profit. that is not enough to plug the budget hole and not taking boo - into the account to run the program. >> we are all pulling for the postal service. time right now. 17 after the hour. it was an iconic image of sandy. new york city crane twisted in half and damaging buildings and now busin
week after the postal service announced a 15.9 billion in losses, the agency is trying to recoup the deficit. starting inep december 12th. they will follow ebay and amazon and walmart and offer same day delivery. the metro post ames to boost profits by taking advantage of holiday shoppers who get their hands on last-packages and the agency is teaming up with 8-10 retailers to offer it at a $10 flat rate fee. we know that customers will have to place their orders by two o'clock p.m. the latest...
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Nov 28, 2012
11/12
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that's the real deficit that we need to worry about right now. for example jeffrey is part of this group. going around talking about cutting social safety net. his predecessor from the 20s and 40s owen young talked publicly about economic equality. he actually talked about how a man could not be free unless his wages were good. unless he was secure in his future and secured his retirement. it is a very different tune. >> eliot: let's make an important point. would the gold blankfein's of the world acknowledge there was some disparities, the ratio of ceo to comp that was crazy and they said we're going to pare that back. >> the compensation is out of whack. we got bailed out. we haven't been criminally prosecuted. the stock market has doubled. stock market has doubled under the obama administration. who we don't like. who we fought valiantly to try to defeat. they would have a lot more credibility if they said that. again, i made the argument that you know whatever it is, the business of the american people, you know used to be general motors. it
that's the real deficit that we need to worry about right now. for example jeffrey is part of this group. going around talking about cutting social safety net. his predecessor from the 20s and 40s owen young talked publicly about economic equality. he actually talked about how a man could not be free unless his wages were good. unless he was secure in his future and secured his retirement. it is a very different tune. >> eliot: let's make an important point. would the gold blankfein's of...
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Nov 26, 2012
11/12
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they will not use it to pay off the debt or to lower the deficit. tracy: you sponsored to cut the balanced approach. we're not even hearing much talk about that, are we? talking raising taxes, not hearing anything about entitlements. how come? >> i was one of the cosponsors involving balancing the budget. i was in wyoming over the weekend, families balance their budget, our state has to balance the budget every year. we should have a constitutional amendment to balance the budget of the united states because we have a $60 trillion debt, you can stay as strong and independent nation if you continue to have that kind of debt to another nation, specifically the amount of money we are borrowing from china, we have to get our financial house in order and i think elections are over, people ought to put away the talking points in time for the president to actually lead, offer proposals that come up with a real solution that addresses the long-term problems that we're facing with medicare, social security, those are the two tidal waves coming at us when he
they will not use it to pay off the debt or to lower the deficit. tracy: you sponsored to cut the balanced approach. we're not even hearing much talk about that, are we? talking raising taxes, not hearing anything about entitlements. how come? >> i was one of the cosponsors involving balancing the budget. i was in wyoming over the weekend, families balance their budget, our state has to balance the budget every year. we should have a constitutional amendment to balance the budget of the...
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Nov 26, 2012
11/12
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>> s ocial security is not contributing to the current debt or the deficit. social security is something that needs to be shored up. it's relatively easy to do compared to the other -- compared to the other problems, but we need to take a balanced approach to the other problems. this idea that we can just -- you know, the american people didn't believe the republican party's nominee who said we can just get rid of some of these deductions. we can get rid of some of the loopholes. that's not going to work. >> i don't understand the, frankly, the contortions being taken by some republicans to avoid raising the tax rate even a point or two at this point. can you explain why it's so important not to raise the rate at all even if it means getting rid of all sorts of deductions? >> because i think you have to say before you raise the rates and say, hey, everyone needs to pay more, we need to look at things we can do to flatten the code, to grow the economy, why would you tell people they have to pay more, small businesses, individuals, before -- >> make them pay mo
>> s ocial security is not contributing to the current debt or the deficit. social security is something that needs to be shored up. it's relatively easy to do compared to the other -- compared to the other problems, but we need to take a balanced approach to the other problems. this idea that we can just -- you know, the american people didn't believe the republican party's nominee who said we can just get rid of some of these deductions. we can get rid of some of the loopholes. that's...